Incentive travel for Millennials: how the new generation of travelers created a massive change
When it comes to new generations and the study of what’s the best incentive travel strategies things get very interesting, especially when Millennials and their habits and philosophy come to the table. This new generation has its own philosophy and it really changes everything we think we knew about traveling and living the experience.
The word showing up linked to the Millennials generation is “Wanderlust”. It is an untranslatable German word. It is the irresistible impulse to travel: explore new places, learn new cultures, put your life in a backpack and leave. And it describes very well the generation of Millennials travelers, between 18 and 35 years old. Young people love to travel and with their habits and preferences, they are redefining this world.
Leaving is not a luxury but a need. According to a report by the Boston Consulting Group, the Millenials generation is more interested in traveling abroad than in previous years (70 percent against 48). And the United Nations estimates: today young tourists are 200 million and generate more than 180 billion dollars in annual turnover in tourism. An increase of almost 30% compared to 2007. In addition to the shortened distances and a freer lifestyle (without children and not yet professionally stable), Millennials have more flexibility to organize their travels. And just the lack of professional stability leads them to prefer to spend their money to explore the world rather than the mortgage of a house or the purchase of a car. Better to travel today, than to save for an uncertain future. This is one of the main reasons why you should consider Incentive Travel for Millenials in your portfolio.
We are a hyper-connected generation. Images and stories of exotic places inspire dreams and destinations in the drawer. According to Forbes, young travelers rely on social media not only to share their memories with friends but also to choose the destination to organize a visit. 15% of Millennials reported being heavily influenced by Facebook posts and 13% by Instagram. During the trip. A memorable experience – Another aspect that the UN report focuses on is the tendency of young travelers to look for authenticity. Taleb Rifai, the Secretary-General of the UNWTO (World Tourism Organization), said: “These young travelers are eco-friendly, tend to stay longer and interact more closely with the communities they visit than the average tourist.
In this sense, young people’s travels are among the most promising paths towards a more responsible and sustainable tourism sector “. Millennials do not take vacations but travel. Even the “how” to spend their savings defines their identity. And so a journey becomes an opportunity to learn something new. When a millennial travels he/she is looking for an authentic experience: tasting local food, getting advice from the locals, taking time for activities that he/she would not do at home, and maybe wasting some time wandering aimlessly. In short, living as much as possible as a local person. Fewer souvenirs, more adventure!
Incentive Travel for Millenials is moving fast to be the niche that will occupy the majority of our portfolio.
Traveling involves a choice: to give up dinner outside or a new item of clothing to save in view of the departure. The portfolio is certainly not bloated, especially that of those who have just started to build their career. So the Millennials travelers got smart by exploring less mainstream destinations; planning their itineraries in time and comparing prices. With the internet at your fingertips, it is easier to find the best choice possible. Indeed, this passage already becomes part of the holiday. Go hunting for the most convenient offer. Route preparation. Fill your eyes with pictures of the places where you will go.
Here, all this is “wanderlust” and all this get things for incentive travel absolute unique, complete, and focused on proposing the best and more complete travel experience to a demanding, active and passionate generation as Millennials.
We believe this niche has to be considered as a new trend in the Incentive travel Sector. See our profile in the Tourism Association and get to know more about us and all possibilities in Mexico.